Thematics Asset Management Has $8.01 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Thematics Asset Management grew its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,013 shares of the software company's stock after purchasing an additional 873 shares during the period. Thematics Asset Management's holdings in Adobe were worth $8,010,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Nordea Investment Management AB raised its stake in shares of Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company's stock valued at $765,094,000 after purchasing an additional 33,414 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Adobe by 0.4% during the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock worth $56,784,000 after buying an additional 570 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Adobe by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company's stock valued at $44,090,000 after acquiring an additional 1,326 shares in the last quarter. M. Kraus & Co acquired a new position in Adobe in the fourth quarter valued at approximately $3,285,000. Finally, Silicon Valley Capital Partners grew its holdings in Adobe by 4.1% during the 4th quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company's stock worth $2,656,000 after acquiring an additional 236 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Performance

Adobe stock traded up $8.95 during midday trading on Thursday, hitting $360.91. The company's stock had a trading volume of 3,080,378 shares, compared to its average volume of 3,424,974. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a 50-day moving average price of $396.80 and a two-hundred day moving average price of $447.18. The company has a market cap of $153.82 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the prior year, the company posted $4.48 EPS. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 922 shares of the business's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. The trade was a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David A. Ricks purchased 2,250 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares of the company's stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 5,075 shares of company stock worth $2,191,826 over the last quarter. Corporate insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Piper Sandler lowered their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a report on Wednesday. Jefferies Financial Group cut their price objective on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Redburn Atlantic began coverage on Adobe in a research note on Wednesday, February 19th. They set a "neutral" rating for the company. Finally, Wells Fargo & Company cut their price target on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating on the stock in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $502.88.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.